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Toncoin Price Forecast: February 14
The Toncoin price forecast is for the bulls to remain persistent in their quest to breach the $2.23 significant level to complete the new bullish cycle.
Toncoin Long-Term Trend: Bullish (1-Day Chart)
Key Levels:
Zones of supply: $2.2300, $2.4800, $2.6000
Zones of Demand: $1.9800, $1.8100, $1.3700
Toncoin has commenced a new bullish cycle, but the price needs to bypass the $2.23 key level, which currently stands as the middle line. In general, the market has been locked in a range between $2.48 and $1.98. This has been ongoing since mid-December when the price slid off an upward trend line. By the beginning of February, the bears were aggressive in trying to break the support level, but that didn’t happen, and the price is embarking on another upward cycle with the $2.23 barrier to bypass.
Toncoin Price Forecast: TON Outlook
Toncoin has entered a new bullish cycle, yet the price faces a crucial challenge in bypassing the $2.23 key level, currently serving as the middle line.
The market has been range-bound between $2.48 and $1.98 since mid-December, following a decline from an upward trending line.
Despite aggressive bearish attempts in early February to break the support level, the price resisted, initiating another upward cycle with the $2.23 barrier to overcome.
Toncoin Medium-Term Trend: Bullish (4-hour chart)
Analyzing the daily timeframe, the recovery of the lower Bollinger Band above $1.98 reinforces the support, while recent candles have exceeded the upper Bollinger Band. The RSI (Relative Strength Index) indicator, which experienced regular fluctuations around the 50 mark, experienced a prolonged stay below but has now surged above the equilibrium level with the inception of the new bullish cycle.
On the 4-hour timeframe, candles bounce upward from the middle line of the Bollinger Band, testing the significant $2.23 level. Simultaneously, the RSI line maintains a consistent upward trend, surpassing the middle line and reaching the overbought border. Toncoin is anticipated to overcome the $2.23 barrier, aiming for the consolidation resistance at $2.48. Further market reactions are expected at that point, in line with positive crypto signals indicating potential upward movements.
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